Nvidia CEO Jensen Huang Resigns After Affair With Alleged Chinese Spy
Nvidia CEO Jensen Huang has resigned with immediate effect following an affair with an alleged Chinese spy. CFO Colette Kress will serve as interim CEO while a search for a permanent successor begins. The company's stock fell about 13 percent at Thursday's market open, erasing roughly $800 billion in market value since the affair was revealed on Sunday. Huang admitted to the extramarital relationship, and media reports allege he also had a relationship with a subordinate executive. Huang led Nvidia since its founding in 1993, becoming a central figure in the AI boom. The company controls an estimated 80 percent of the global AI processor market. The FBI is investigating, and the US Congress plans to hold a hearing on the matter.